it varies.. but I usually luck out and don't hit long lines. I went on opening day this year.. watched the fireworks display and when the finale started we headed for the line for the lights and waited about 15 min for the lights to open. I was surprised at how close we got that quick. We were right in front of the college when we started and I bet the traffic leaving the fireworks display was a lot worse and was glad we decided to go to the lights too as I am usually in that long traffic leaving the fireworks.
It does take about an hour to go through the whole thing if there is traffic at all so make sure you have plenty of gas and make sure the kids don't have to go potty before you get in the line. I usually go around 8 or 9:00 and usually isn't too bad. The closer you get to Christmas the more crowded it gets especially Christmas eve. They are open after Christmas too and usually not that bad then at all.
It is free to get in, however they do collect donations at the end if you wish to make a donation and they give you russell stovers chocolates.
They have really expanded it and made a longer route but also has some lights along the way before you get to the major lights so does seem to keep the kids occupied while you wait in line. Would recommend taking a movie player or video games while you wait in line though in case it is a few hours long. I have taken my kids every year since they were little and they never complained about waiting a few hours and a few times we have waited in line that long. We have stick shifts to drive and we don't mind going through long lines.
There is another really cool display on Metcalf and make sure you turn on the radio as the lights dance along with the music. There is a sign in the parking lot to tell you which radio station. We usually park across the street in the church parking lot on the hill and you get a better view than you do directly in front of the building in the parking lot. The light show lasts about 20 minutes and then starts over with the same songs.